Stock Market

US stocks leaped on Wednesday after the Federal Reserve surprised Wall Street when it said it will buy long-term Treasury bonds for the first time in four decades in an effort to revive the recession-hit economy. The Feds move, aimed at resuscitating lending, drove the yield on the 10-year US Treasury note to its biggest one-day drop since the 1987 stock market crash and 30-year mortgage rates fell to around their lowest levels on record.